Potential cash tax savings for energy companies | KPMG | GLOBAL

KPMG report: Potential cash tax savings for energy companies

Potential cash tax savings for energy companies

The current economic environment presents challenges for many companies, particularly members of the energy industry. A number of industry members affected by the severe downturn in commodity prices are facing significant net operating losses and are seeking ways to generate cash tax savings.


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Companies in a net operating loss position that incur “specified liability losses” may be entitled to claim federal tax refunds from as far back as 10 tax years, and in some cases, will be able to receive the refund in as few as 45 days. Identifying potentially qualifying costs incurred either in the current or in any open tax year during which an overall net operating loss was incurred may prove beneficial. 


Read a November 2015 report [PDF 209 KB] prepared by KPMG LLP: What’s News in Tax: Specified Liability Losses: Potential Cash Tax Savings for Energy Companies

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